Ben Richardson, CEO at SulNOx, confident they can cost-effectively decarbonise commercial shipping. Watch the video here.
Scotland is financially dependent on England. When the EU fails in 2 years we will be isolated from that but without a homegrown source of fuel the 20 year Recession that we are nibbling at the toes of will hit Scotland and Wales v hard as they will have no natural resources to prop them up. Happily for Igas they sold their Scotland licenses to INEOS and are going to be doing just fine with the massive oil fields around Horse Hill.
2000% rise from 65p values company at £1.5 billion. If it oil reserves at Horse Hill are shown to be as good as everyone says then Igas who have all the licences surrounding will be sitting on a fortune..... so yes. I note UKOG are 3x Igas value and Igas have a licence right on UKOG's patch.
naah, it's going to soar. This is the one and only time I haven't averaged down. I saw the great news in the Interim results (£8 million profit this half vs £25 mil loss last) and also reminded myself that the licences Igas have are in all the best spots around Horse Hill and thought, this is crazy cheap.... and nope. For once, nope! So Tues will be 75p, Wed 90p, Next week £1.20, etc. (I see meta4 and MattyDee have gone quiet. Strange how they only seem to want to comment on here when the SP falls!!)
worth bearing in mind that IGas also have ML21, PL182, PEDL257 and ML18 all around Bletchley and right in the middle of the Horse Hill stuff so right now this share is crazy undervalued. As soon as the results are in it's going to top 1000p a share.
"UKOG said analysis and seismic survey results “strongly suggest” that PEDL234 has similar Kimmeridge Limestone oil potential to that seen at Horse Hill." ...and PEDL235 is right on the PEDL234 site. Happy Days!
the one near the Kimmerage Play and close to Horse Hill? Yup. That's going to be a gusher for IGas. That's why the SP at 50p odd is totally crazy. But the markets are very short sighted. Sadly they will be their usual reactive after the good news rather than doing the research beforehand and buying in early. PEDL235 is 100% owned by iGas and licence extended to June 2019 with end date of 2039. I shd think IGas are keeping this one close to their chest so they don't get a hordes of Unwashed descending on the place.
meta4; you mistook my rhetorical questions for questions! I explained that past performance is now irrelevant because the company has completely restructured it's debts and got a huge influx of new funding but, of course, you don't actually want to listen to my reasoning. You are still bitter that you lost money on Dart years ago and take every opportunity to be negative on a share that you have absolutely no investment interest in so what you say, even by your own admission, is completely biased. As for JBelfort... there's a name to trust, right? Loved you in Wolf of Wall Street! And to say 'it's a sinking ship' speaks to me of a deramper as it comes with no explanation of the underlying fundamentals of the company. I suspect this is because you have no understanding of the fundamentals but simply look at the SP and in the case of IGas the SP is no indication of the true fundamentals. As I said in my previous post, it's going to take news on drilling or the next financial update before we can see the true value of IGas. From my current research I would suggest that the SP will soar as soon as news is out and is currently hugely undervalued. As I also said, I'm not selling my shares so today's SP is an irrelevance. I do not need to 'talk the company up'. I'll let the multi-billionaire hedge funds that are invested in Igas do that!
Why would past performance be any guide? For all it's life IGas *had* massive debts like a lot of small exploration oilies. As of July it's completely restructured itself and now has some huge hedge fund types invested and these aren't people who go around throwing money away. The only problem with Igas at the mo is that there is absolutely no point trading a share when the news we are all waiting on (flow rates and drill results) are yet to come in. I'm happy to wait. I have no intention of selling my shares so the SP is irrelevant until the results are in. The company itself has sorted it past problems and is now a solvent going concern and has streamlined to be able to be profitable in a low-price oil economy. We have yet to have the yearly results since the restructuring so the SP is waffling along on pure idle guesswork and no incentive. (No news on an as yet to be valued company will always lead to a downward drift). If you want to keep shorting the share you keep shorting. I'll sit back and laugh my socks off when you get burned big time. (And if you tell me you aren't shorting then I have to wonder what you are doing wasting your time posting on a share you have no investment in).
Yup. Those of us invested are simply not going to sell our shares come Hell or high water. An oil company with almost no debts? Incredible. Sure, shareholder value had to be wiped out at the time but I just saw it as a continued buying opportunity. This is Apple in 1981. I'm happy to wait it out til the good news later in the year.
who cares? we all know Igas is a share that has been manipulated by the shorters for their own seedy gain. Like we all know they post sad comments on here in an attempt to cash in. Igas is hugely undervalued based on core oil assets alone and almost no debts. It has turned a corner and is slowly plodding into a profitable company. However, with no constant good news those who like to short will take advantage of an unexciting share by selling a few shares at a loss and cha-ching on their shorts.
Jeez, Meta4, we get it.... you lost everything when Igas swallowed up Dart for a pittance and rather than buy in now (when all the big players have invested - TEOG/KKR, Kerogan) and make a fortune as this share turns from APPL in 1980 to APPL in 2017 you'd rather just keep hating on Igas. In reality the acreage that Igas has from DART will come good v soon. In only a matter of months the first flow test results are in and Igas will be on a heady climb up to 1000p+ which is why I fail to understand why someone would sell at the bottom and then make their one & only post about it.
funny how there are suddenly lots of fakers on here with one single post *ever* on Igas where they say 'that's it, i'm out. sorry guys'. Yeah whatever, fakers. If you're trying to get the SP lower to close out those shorts you should have opened them at 80p. Too late now!
Ok, I have done some research. It seems the 'learned' professor who thinks the UK cannot be fracked is taking a line from the 2014 DECC report that states; "This study concludes that there is no significant Jurassic shale gas potential in the Weald Basin." ...... but in the paragraph above it states; "This study has identified the potential for a significant volume of oil-mature shale to be present at several horizons in the Jurassic in the centre of the basin." So to put it simply there are some areas of the UK that would not frack and some that'd be just fine, like anywhere else in the World! https://www.gov.uk/government/uploads/system/uploads/attachment_data/file/313702/BGS_DECC_JurassicWealdShale_study_2014_MAIN_REPORT_LOW_RES.pdf As a side note, this OGA 2016 report is interesting and concludes, "No significant shale gas resource is recognised with the study area."; https://www.ogauthority.co.uk/media/2786/bgs_oga_2016_wessex_low_report.pdf Igas don't have any licence areas in the Wessex area as far as I am aware.
http://www.telegraph.co.uk/business/2017/08/16/uk-shale-industry-overhyped-unlikely-deliver-geologists-warn/ This article in the Telegraph is why the SP is tanking at the minute, although I suspect the SP is now so low that even if you ignore fracking the oil side of Igas now makes the share a bargain. After all, Igas are now in the position of making a decent profit on their conventional resources alone. I also see this 'Professor' as just an opinionated guestimator (who just wanted 15 mins of fame, imo) as he has no actual idea of the true flow rates of gas in the rocks of the UK. In fact, Igas have got the best understanding as they have the research. So like all things we shall wait and see. The first flow tests later this year will prove one way or another.
http://www.iii.co.uk/articles/436034/oil-man%3A-igas-energy-wentworth-resources-premier-oil Not sure I have enough posts to post links but if not then just to say there is a nice piece from Malcy today about Igas which pretty well sums up where we are. "Previous well information suggests that geometry allows for an accumulation of conventionally trapped hydrocarbons within the Pentre Chert." Exciting times ahead. This is a share to hold and forget.... or buy more of at the current ridiculously cheap price.
Thanks... but these answers are emotional. I wanted to see what the actual floor price is. At the minute you're all saying that my 3-bedroom house is worth zero whilst the market is going through a slow-down which is not the case. It might not be worth £450,000 but at £25,000 you'd take my arm off! So with Igas what is the bargain price? Or is it worth absolutely nothing? (I accept that any share that doesn't pay a dividend is worth zero pence to shareholders but that would make APPL shares zero!) Btw, I got my sums a bit wrong - £18 million should be £14.5 million (forgot to account for $ to £) so about £4.5 million profit / year before tax.
So can anyone tell me the absolute base value of this company if you *ignore* any fraccing potential? As a simple oil-only producer Igas are doing around 2350 barrels a day which (allowing for a 10% downtime) gives you 328 days so 771,800 barrels a year. If anything over $24.6 a barrel is gross profit (as stated in the latest results) then at $48 a barrel the company is making $23.4 per barrel gross so just over £18 million a year. With operating costs at £9 million then profit is also £9 million and with debt not having to be serviced until $50 a barrel we can shelve debt payback for the minute. So at 67p a share and 121m shares you have a valuation of £81 million and a P/E of 9. Is that a fair assessment and if so is it a cheap P/E for Igas? In the last tax year Igas made losses on bad hedges of £12 million because of debt conditions and finance costs of £28.8 million. Without those things to drag the company down is there not a damn good profit expected this tax year?